American Express (NYSE:AXP) today announced a proposed acquisition of TheFork, a leading online restaurant reservation and management platform in Europe, from Tripadvisor, Inc. (NASDAQ:TRIP), growing its dining offering in the region.

Following the closing of the potential transaction, TheFork would continue to operate under its existing leadership team while benefiting from the global reach and powerful backing of American Express.

The proposed transaction is expected to close before the end of 2026, subject to labor consultation and customary conditions, including regulatory approvals. Under the terms of the proposal, American Express will acquire TheFork from Tripadvisor for $700 million in cash, subject to customary adjustments.